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Prepare the journal entry required

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Reference no: EM131750684

Problem - Use the Allowance Method for the following transactions:

For the month of December, ABC has an Accounts Receivable of $250,000 and an Allowance for Doubtful Accounts of $2000. Prepare the journal entry required, if the adjusting entry is based on 3% of accounts receivable.

Reference no: EM131750684

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